The move comes after Trump's 25% increased tariffs on all steel and aluminium imports took effect Wednesday, as prior exemptions, duty-free quotas, and product exclusions expired.
The next prime minister will have to negotiate with U.S. President Trump as he threatens additional tariffs on Canada & may soon face the Conservatives in a general election.
Delay applies to certain products for a short period before the 'big one' from 2 April. Decision came after what Trump described as a 'fruitful' conversation with Mexico's Sheinbaum.
Beijing has less than a week to publish countermeasures as US administration takes a harder stance on its rival, despite backing down on 60% tariff threat after Trump took office.
Use of tariffs stems from the urgency to curb rising US trade imbalance. US trade deficit in goods widened to $1.2 trillion in calendar year 2024 from $1.06 trillion in 2023.
Import tariffs are not an economic consideration for the government of India anyway, with data from Budget 2025-26 showing that customs duty isn’t a key revenue source.
He also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately, applying them to all countries & matching the tariff rates levied by them.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
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